Probable expenditures and revenues (April 30 budgets) represent the best estimates of actual expenditures and revenues anticipated for the fiscal year ending June 30. Departmental staff should review budgets carefully to see that they reflect anticipated revenues and expenditures within the categories of salaries, staff benefits, operating, and equipment. Revisions after April 30 should be the exception and only for unusual or unforeseen occurrences.
Non-recurring budget revisions should not be prepared simply to move budgets within the same category (example, moving operating money from travel to supplies). Revisions to move money from operating to salaries are appropriate. Recurring budget revisions may be processed within the same category (travel to supplies) if it is determined that a permanent change needs to be made.
The April 30 recurring budgets are also the source of information for the UTM Budget Document of the upcoming fiscal year and for THEC reports. Because of this, no recurring budget changes can be made after April 30. Departmental staff should review base budgets in current and previous fiscal years and prepare recurring budget revisions for any changes that need to be made. Auxiliary and service center units should be sure that staff benefits are adequately funded.
IRIS reports are available to assist in this process. For all of the reports listed, enter the account number in the “fund” box and make sure that the current year is displayed. The transactions are listed below:
ZFM_BCS084 – Forecast Report (projects total income/expense based on prior year)
ZFM_BCS083 – Budget with 4 Years Actual (shows the current budget, base budget, and actual expenditures for the prior four years)
ZFM_BCS001D – Annual Budget vs. Actual (shows expenditures/income to date)
All budget revisions are due to the Office of Budget and Management Reporting by mid-April to ensure that budget adjustments are entered before the deadline.